All About Designating Beneficiaries in Estate Planning

If you have ever opened a bank account, have a life insurance policy or have started planning your estate, you’ve probably been asked to name a beneficiary or beneficiaries for that account. A beneficiary is a person or entity who receives your assets once you’ve passed away. Designating a beneficiary ensures your assets go where you want them to once you’re gone. But it’s not enough to designate a beneficiary — it’s important to understand how the process works so that you can make the right choices for you and your family.

Selected excerpt(s) and linked article courtesy of Patrick M. Simasko, kiplinger(dot)com
Royalty-free photo courtesy of Google’s AI ImageFX

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